Ann: Half-Year 2018 Results and Briefing Pack, page-23

It was ex dividend yesterday... 73 cents AUD plus franking credit is $1.03.

Whilst STO got a good deal their are some fundamental problems. They added more debt so gearing well above 30% again. On top of that some of those assets are going to require significant capital. How they will fund it? They almost went broke last time they embarked on large projects. Equally if POO was to crash again STO will be in trouble.

Lastly a royal commission into energy producers? I don’t think the masses realise that STO is one of the largest buyers of Australian gas to fulfil its LNG contracts overseas because it doesn’t have enough resources to fill its quota. The government signed off on this too, ie the initial project. This is a disgrace. This was covered in some newspapers. It was rumoured around $2bn of gas was sold on market in Australia to overseas via santos in the last year... imagine the outrage when joe 6 pack realises his power bills are so high partly because of Santos. A lot of risk with santos. We use to hold massive amounts of it too, big loss.